- USDTHB : moving in the range 33.85 – 33.95 this morning, supporting level of USDTHB is around 33.75 resistance level is around 34.00
- SET Index: 1,690.6 (+0.61%), 21 Apr 2022
- S&P 500 Index: 4,393.7 (-1.49%), 21 Apr 2022
- Thai 10-year government bond yield (interpolated) : 2.78% (-1.80 bps), 21 Apr 2022
- US 10-year treasury yield: 2.90 (+5.00bps), 21 Apr 2022
- Fed's Powell Says 50 Basis Point Rate Hike for May on the Table
- U.S. existing home sales fall further as house prices hit record high
- Euro zone trade deficit extends to Feb as energy import burden rises
- Yen and yuan suffer as Fed eyes faster hikes
Fed's Powell Says 50 Basis Point Rate Hike for May on the Table
Federal Reserve Chairman Jerome Powell said Thursday that a 50 basis-point rate hike was on the table for the May meeting as the central bank aims to step up the pace of monetary policy tightening to curb elevated inflation. Pointing to the minutes of the Fed's March meeting, Powell said that "many on the committee thought it would be appropriate for there to be one or more 50 basis point hike.“ Traders expect the Fed to hike rates by 50 basis points at each of the next three meetings in an attempt to curb demand, and overall inflation, which is well above the central bank's 2% target.
U.S. existing home sales fall further as house prices hit record high
U.S. home sales dropped to the lowest level in nearly two years in March as house prices raced to a record high, and could decline further with mortgage rates hitting 5%. Existing home sales dropped 2.7% to a seasonally adjusted annual rate of 5.77 million units last month, the lowest level since June 2020. Data for February was revised sharply down to a rate of 5.93 million units from the previously reported 6.02 million units. The 30-year fixed-rate mortgage averaged 5.0% during the week ended April 14, the highest since February 2011 and up from 4.72% in the prior week.
Euro zone trade deficit extends to Feb as energy import burden rises
The euro zone suffered a trade deficit for a fourth consecutive month in February as surging energy prices led to a sharp increase in the value of energy imports, data showed on Wednesday. Eurostat said the non-adjusted trade deficit of the 19 countries sharing the euro was 7.6 billion euros ($8.2 billion) compared with a 23.6 billion euro surplus a year earlier in February 2021. Euro zone trade is rarely in deficit, but this was the fourth consecutive month of shortfall, albeit sharply lower than the January figure of 27.2 billion euros. Before November, the euro zone previously had a negative trade balance in January 2014 and last experienced deficits of more than a single month in 2011.
Yen and yuan suffer as Fed eyes faster hikes
The 10-year government bond yield (interpolated) on the previous trading day was 2.75, -1.80 bps. The benchmark government bond yield (LB31DA) was 2.65, +5.00 bps. LB31DA could be between 2.60-2.70. Meantime, the latest closed US 10-year bond yields was 2.90%, +5.00bps. USDTHB on the previous trading day closed around 33.83 Moving in a range from 33.85-33.95 this morning. USDTHB could be closed between 33.80-34.00 today. The dollar was headed for its seventh consecutive weekly gain on the yen on Friday and its best one-week rise on China's yuan in more than two years as higher U.S. yields hoist the greenback. Powell’s remark, though more or less in line with market expectations, sent five-year U.S. yields above 3% for the first time since 2018 and unwound a bounce in the euro.
Sources : ttb analytics , Bloomberg, CNBC, Investing, CEIC
